Theater OK’d
City Council signs off on agreement with developers
TROY, N.Y. >> A plan to place a nine-screen movie theater in the heart of downtown took its first step toward becoming reality Thursday night.
The City Council at its regularly monthly meeting overwhelmingly approved a land development agreement for the former site of City Hall at One Monument Square with BTPMonument Square, a partnership of Bonacio Construction and Bow Tie Cinemas. The agreement is the first in a series of steps the developers must take before construction can begin on the proposed $18 million, cineplex. The companies hope to begin construction by fall, with doors planned to open in time for
the 2018 holiday season.
“As we move through the next phase of redeveloping the One Monument Square site, I want to express my thanks to the members of the Troy City Council for their participation and careful consideration during the legislative approval phase of this important redevelopment project,” Mayor Patrick Madden said in a statement released after the council meeting. “When complete, this exciting theater project will support the ongoing growth of our community into an active 18-hour city, attracting new visitors to our downtown restaurant and small business district and driving new investment to the Collar City.” This latest proposal will be the fourth in six years since City Hall was demolished in 2011 because of damage done to its support structure by flooding along the Hudson River in 2006. The most recent of those proposals fell through last summer, when Kirchhoff Properties, a downstate developer, pulled out of a proposed deal to buy the property from the city for $650,000. That decision followed two years of changing plans that sparked a public outcry led by a group of downtown merchants who took the moniker We Care About the Square.
Council members continued to express concerns Thursday night they already voiced at an April 19 meeting of the group’s Finance Committee, including the impact on downtown parking and whether the proposed design fit in with the historic surrounding architecture. Seven of the eight council members at Thursday’s meeting — at-large Councilwoman Kimberly Ashe-McPherson left before the full council meeting due to illness — agreed, however, that those issues weren’t of enough concern to stop the proposed sale of the land for $600,000.
“I want to see this development move forward,” said council President Carmella Mantello, who voiced those concerns, as well as the inclusion of terms allowing the developers to extend their option to buy the land for as many as 30 months. “We’ve seen three [proposals], and they were all good proposals, but none of them came through.”
Councilman Mark McGrath, R-District 2, cited in giving his support to the proposal the track record of the two companies, especially Bonacio Construction, which already owns and has revived several downtown properties, including the historic Dauchy, Hendrick Hudson and River Triangle buildings in and around Monument Square. Bonacio and Bow Ties Cinemas are also working together to restore the landmark American Theater just north of Monument Square on River Street.
“At the end of the day, it’s their money,” McGrath said. “The guy [ Bonacio Construction owner Sonny Bonacio] does what he says he’s going to do, and he does it in a timely manner.”
As was the case with the Finance Committee, which includes all nine council members, Councilman Jim Gulli, R-District 1, cast the lone vote against the proposal, renewing his concern the project would put the city in a no-win situation.
“I think you have a double-edged sword,” Gulli said, reprising the reason he gave for voting against the plan two weeks ago. “If it’s successful, you’re going to have parking problems; if it’s not, who’s going to want to buy a nine-screen movie theater.
Monument Square would be the fourth Bow Tie Cinemas theater in the Capitol Region, joining facilities in downtown Schenectady and Saratoga Springs, as well as Wilton Mall. Bonacio and Bow Tie Cinemas teamed up previously to open Criterion Cinemas in a former Price Chopper supermarket just off Broadway, on Railroad Place, in Saratoga Springs and to renovate the theater in Wilton Mall. The Troy theater would share many of the same luxury amenities as the other area Bow Tie Cinemas, including more than 1,300 reclining seats and a full restaurant and bar.
The proposal must still be fully reviewed by the city’s Planning Commission and Historic Review Committee, but both the developers and city officials were confident the plan would hold up to the scrutiny of those groups.
“We are excited about Troy’s support for this transformative downtown project,” said Joseph Masher, a Troy native and chief operating officer for Bow Tie Cinemas, “and look forward to working with the Historic Review Committee and Planning Commission on the design of a signature downtown destination.”
Before the council voted, they addressed concerns expressed at the beginning of Thursday’s meeting about the site by another local developer, Sam Judge of Judge Development. Tops among his worries, he said, were plans he said indicated to him the city would be unable after the theater was built to extend sewer service farther south along Front Street to properties he owns. Judge said those properties had sewer lines that emptied directly into the adjacent Hudson River, lines he capped off with the expectation of being able to tap into city sewer service.
City officials disputed Judge’s interpretation, however, saying the existing line that runs through OneMonument Square ends at the southern boundary of the property, allowing for it to be extended as needed to connect to additional buildings.
“We’re driving to a new future together,” Councilman Robert Doherty, D-District 4, said, “and we’re doing it well this time.”